KARACHI: The Directorate General of Customs Valuation has fixed the customs values of Coke vide Valuation Ruling no. 753/2015.
The Customs values of Coke (H.S Code 2704.0010) were determined under Section 25-A of the Customs Act, 1969 vide Valuation Ruling No. 594/ 20l3.
The importers have been agitating that coke prices in international market have considerably gone down but the values in the ruling have remained static and very high.
In a constitutional petition, the values in the same ruling had been agitated and High Court of Sindh remanded that specific case for ne-determination of customs values of coke.
Moreover, as the impugned Valuation Ruling was old and a considerable time has passed and in view of the significant variation in the international prices of Coke, Directorate initiated an exercise to re-determine Customs Value of Coke afresh.
Coke Breeze (0 to 25mm) under PCT 2704.0010 of China, India, Middle East, Far East would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $40 per MT on account of freight and other charges.
Coke Breeze (0 to 25mm) under PCT 2704.0010 of Europe, America and Canada would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $45 per MT on account of freight and other charges.
Semi Coke (25mm to 80mm) under PCT 2704.0010 of China, India, Middle East, Far East would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $40 per MT on account of freight and other charges.
Semi Coke (25mm to 80mm) under PCT 2704.0010 of Europe, America and Canada would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $45 per MT on account of freight and other charges.
Foundry Coke & Metallurgical (Over 80mm) under PCT 2704.0010 of China, India, Middle East, Far East would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $40 per MT on account of freight and other charges.
Foundry Coke & Metallurgical (Over 80mm) under PCT 2704.0010 of Europe, America and Canada would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $45 per MT on account of freight and other charges.